Mutual funds

Ridgefield, Conn.-based Simple Alternatives, an alternative mutual fund shop, has added two more long/short managers to its flagship S1 Fund (SONEX), a multi-manager, long/short equity mutual fund.

MainStay Investments is looking to give its retirement business a boost by offering additional non-revenue share class (R6 Shares) for six funds, effective June 17.

The TCW Group has added Joseph Carieri as head of U.S. institutional distribution and marketing, responsible for all marketing activities and initiatives related to the institutional investor community.

While liquid alternative assets grew double-digits last year within the wirehouse segment, the asset class has also seemingly hit a wall.

The amount of money investors have withdrawn from municipal bond mutual funds, at $1.61 billion for the week of June 12, continues to climb and break records for the year.

The first decade of the 21st Century dramatically changed the landscape for financial advisors.

Delaware Investments’ Optimum Large Cap Growth Fund (OCLGX ) is dropping Marsico Capital Management, as a sub-adviser to the fund on June 19, according to a regulatory filing.

Delaware Investments has added Steven Landis as an emerging markets debt portfolio manager to the firm’s total return fixed income group. Landis comes to Delaware Investments from FH International Asset Management, where he was a PM for emerging markets debt strategies.

The U.S. exchange-traded funds market is primed to double up on its current $1.5 trillion in assets to the tune of more than $3.5 trillion in assets over the next five years, according to iShares’ latest forecast.

The Securities and Exchange Commission has settled an enforcement proceeding against eight former directors of five Morgan Keegan open- and closed-end funds that were heavily invested in securities backed by subprime mortgages.

Franklin Resources yesterday announced that Charles Johnson will retire as chairman of the board and director, effective June 13. In his stead, the firm's board of directors approved the appointment of his son, Gregory Johnson, as chairman and he will continue in his roles as president and chief executive officer.

The Depository Trust & Clearing Corporation’s Wealth Management Services division this week rolled out a shinier version of its Mutual Fund Profile Service II, DTCC’s repository of databases allowing funds, broker/dealers and other distribution firms to automate and streamline the exchange of information regarding securities, participants and distributions.

The Securities and Exchange Commission has approved new FINRA rules that prevent mutual fund and hedge fund industry personnel from serving as public arbitrators, effective July 1.

After weeks of either net outflows or only modest inflows, tax-exempt money market funds recaptured $3.13 billion of net gains as total net assets grew to $260.97 billion in the week ended June 10, according to The Money Fund Report, a service of iMoneyNet.com.

With the number of alternative strategies rising, how can advisors pick the winners from the losers?

Total money market mutual fund assets increased by $1.02 billion to $2.612 trillion for the week ended Wednesday, June 12, according to the Investment Company Institute.

Arrow Funds is building out its sales team with an eye on expanding distribution of its alternative products in the RIA channel.

Trading at 25% down from an all-time high of $1,921 per ounce, gold's recent prices may have you thinking that the bull run is over.

The Securities and Exchange Commission has approved new Financial Industry Regulatory Authority rules that prevent mutual fund and hedge fund industry personnel from serving as public arbitrators, effective July 1.

BNY Mellon Investment Management has hired Andrew Provencher as Head of U.S. Retail Sales, a newly created role in which he will be responsible for leading all sales and relationship management through the Dreyfus platform focusing on national wirehouse firms, Registered Investment Advisors, independent broker-dealers and private banks.